Grocery Outlet raises annual forecasts as TotalEnergies and Chatham Lodging Trust receive upgrades

Grocery Outlet shares rose following the retailer's decision to raise its full-year sales and profit forecasts. For its fiscal second quarter, the company reported net sales of $1.2 billion, driven by the opening of 10 new locations. While adjusted net income fell to $20.3 million compared to the previous year, the results exceeded Wall Street estimates. CEO Jason Potter noted that efforts to improve value perception are gaining traction.

In separate market news, TotalEnergies received an upgrade from Wall Street Zen, moving from a 'hold' to a 'buy' rating. The energy company maintains a consensus rating of 'Moderate Buy' with an average target price of $87.14.

Chatham Lodging Trust was also upgraded by Wall Street Zen from 'hold' to 'buy'. The real estate investment trust recently reported quarterly earnings of $0.13 per share, which exceeded expectations.